Cogeco (TSE:CGO) Issues Quarterly Earnings Results

Cogeco (TSE:CGO) announced its earnings results on Wednesday. The company reported C$3.10 earnings per share (EPS) for the quarter, FiscalAI reports. Cogeco had a return on equity of 9.64% and a net margin of 2.86%.The company had revenue of C$724.17 million for the quarter.

Cogeco Stock Up 1.5%

CGO stock opened at C$63.57 on Thursday. The firm’s fifty day simple moving average is C$63.44 and its 200-day simple moving average is C$66.69. The company has a market capitalization of C$602.01 million, a P/E ratio of 7.28, a price-to-earnings-growth ratio of -0.28 and a beta of 0.79. The company has a debt-to-equity ratio of 531.92, a current ratio of 0.50 and a quick ratio of 0.51. Cogeco has a 12 month low of C$55.19 and a 12 month high of C$77.04.

Analyst Ratings Changes

CGO has been the topic of several recent analyst reports. TD Securities upgraded shares of Cogeco from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. TD upgraded shares of Cogeco from a “hold” rating to a “buy” rating and lowered their target price for the stock from C$85.00 to C$81.00 in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of C$77.33.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas. The Canadian broadband services activities are carried out by Cogeco Connexion in the provinces of Quebec and Ontario and the American broadband services activities are carried out by Atlantic Broadband in 12 states.